In a groundbreaking move, the Colorado House of Prayer has announced plans to tokenize a chapel valued at $2.5 million. The initiative, led by Pastor Blake Bush, seeks to leverage blockchain technology to purchase the historic Old Stone Church.

Divine Inspiration for Blockchain Utilization

Pastor Blake Bush revealed that a “higher power” inspired him to use blockchain as a tool for this significant mission. “God asked me to tokenize this building. I didn’t even know what that meant. I prayed for years, and He told me to go and reclaim this chapel,” Bush shared in an interview with Forbes.

Stone Coin: A Digital Asset for Fundraising

To achieve their goal, Bush and his team have created a digital asset called Stone Coin. The tokens will be used to raise the necessary funds to purchase the Old Stone Church. Bush utilized the services of Retokens, a platform specializing in the tokenization of real estate on the Polymesh blockchain.

Fundraising Progress and Future Plans

Like any other project involving the tokenization of real-world assets, success will depend on the amount of funds raised. Reports indicate that Bush has already secured around half of the required amount. He is now seeking investors to complete this “spiritual mission.”

Investment Details and Market Approach

Looking ahead, Bush and other organization members, along with the mayor of a local town, plan to launch the sale of Stone Coin at $500 per token, with a minimum investment of $1500. These tokens will not be traded on centralized exchanges like Binance or Coinbase. Instead, they will be available exclusively on Retokens.

In summary, the Colorado House of Prayer’s initiative to tokenize a $2.5 million chapel represents a unique intersection of technology and spirituality. By leveraging blockchain, they aim to achieve a significant goal while showcasing the potential of tokenization in real estate.